Standard Chartered: US SEC data supports Bitcoin reaching a target of $500,000 by 2028

On May 20, Geoff Kendrick of Standard Chartered Bank stated that the recent SEC 13F report supports the expectation that Bitcoin could rise to $500,000 by the end of 2028. Although the shares of directly held Bitcoin ETFs decreased in the first quarter, government agencies have increased their Holdings in Strategy (formerly MicroStrategy), which is seen as an alternative investment vehicle for Bitcoin. This may reflect the efforts of institutions to gain exposure to Bitcoin under regulatory constraints.

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